SANFORD PLAZA | UNIT 220 | 100% LEASED | 9.00% CAp rate

Long Term Lease | Stable Tenant | NNN | Sanford, FL

<back to properties

PRICE REDUCED:

$359,600

9.00% CAP | NNN LEASE

Hookah Lounge

Listing Brokers

Costel Vanatoru

Lic. Real Estate Broker

407.403.5775

FL License: FL BK3139052

Need more information? Contact broker, or click below to request the OM.

By submitting, you agree to the terms and conditions of our Privacy Policy.

SANFORD PLAZA | UNIT 220 | 100% LEASED | NNN LEASE | 9.00% cap rate

Long Term Lease | Stable Tenant | NNN | Sanford, FL

Price

$359,600

CAP Rate

9.00%

Price/RSF

$121.20

Occupancy

100%

Address

2921 S Orlando DR Unit 220

Year Renovated

2020 (by tenant)

City/State/Zip

Sanford, FL 32771

Unit Size (SF)

2,500  +/-

County

Seminole

Lease Type

NNN

Property Type

Retail/ Lounge

NOI

$32,376

Use Type

Investment

Building Class

N./A

PID

Per Request

Unit Condition

Full Build Out (Lounge)

Zoning

Commercial/ Office

Ownership Type

Condo

Suites

1

 

 

PROPERTY DESCRIPTION

Vanwald & Associates is pleased to present the opportunity to acquire a fully leased retail condo Unit in The Sanford Plaza, located at 2921 Orlando AVE, STE 220, Sanford, Florida.

 

100% Leased. The Unit is fully leased to Ezzence Hookah Lounge under a brand new 64 months lease which commenced on July 1, 2020.

 

7% Rent Escalations. The Lease has very attractive 7% yearly base rent increases.

 

Great Visibility and Foot Traffic. Located next to CitiTrends, the unit benefits of a captive audience and great exposure and visibility.

 

NNN Lease. The lease is a NNN type lease stipulating that Tenant pays Base Rent (net of expenses), and Additional Rent to cover the yearly Operating Expenses, like property taxes, insurance, association dues, management, etc. The Additional Rent can be adjusted yearly based on actual expenses.

 

This lease structure further protects the asset’s NOI from raising costs and unexpected expenses.

 

The Association (paid by Tenant through additional rent) maintains the parking areas, landscaping, walkways, the exterior of the suite, and more.

All Rights Reserved. Copyright 2016 Vanwald & Associates LLC

Vanwald & Associates LLC | Lic. Real Estate Broker | 6000 Metrowest BLVD STE 101, Orlando, FL 32835

FL Real Estate License: FL BK3139052 | AL Real Estate License: 000125471-0